Qualcomm "buy"

14.06.06 - Lazard Capital

NEW YORK, June 14 (newratings.com) - Analysts at Lazard Capital reiterate their "buy" rating on Qualcomm (QCOM). The target price is set to $63.

In a research note published this morning, the analysts mention that the company has raised its EPS and revenue guidance to $0.41-$0.42 and $1.91-$1.96 billion, respectively. Qualcomm?s US CDMA market and EV-DO Rev A?s initial shipments seem to be the main strength for the company going forward, the analysts say. Lazard Capital expresses its concern regarding legal risks related to the BRCM suits and complaints and Qualcomm?s likely renegotiation of a license agreement with Nokia.